MONTREAL, April 3, 2025 /PRNewswire/ -- Essential Turbines Inc. (ETI), a leading provider of maintenance, repair, and overhaul (MRO) services for aircraft engines, announced today that it has reached an agreement with ITP Aero, a leading aerospace propulsion company, to acquire AeroMaritime Mediterranean (AeroMaritime). AeroMaritime is a Malta-based aerospace MRO focused on the Rolls-Royce M250 and RR300 engines that services operators across the globe. As a Rolls-Royce authorized, maintenance, repair and overhaul center (AMROC), AeroMaritime has a four-decade history of serving global operators in civil and military sectors.

Gannon Gambeski, President and CEO of ETI noted, "We are excited to add AeroMaritime to the Essential Turbines group. AeroMaritime is a highly regarded AMROC that further expands ETI's global footprint, while offering enhanced capabilities and access to our customers and the Rolls Royce network. This acquisition is another step in delivering on Essential Turbines' overall growth strategy, we look forward to building on AeroMaritime's strong foundation and decades of expertise." After the acquisition of AeroMaritime is complete, Essential Turbines will have a strategic MRO footprint across North America and Europe.

Alan Jones, Executive VP of MRO at ITP Aero noted, "We are deeply committed to delivering unparalleled value for our customers, partners, suppliers, shareholders and employees as a higher-growth, higher-margin, pure-play engine company and, in this regard, we are fully determined to continue to build a dedicated platform to support the global commercial aviation aftermarket. This decision reaffirms our commitment to simplify our business to focus on larger commercial and defence engines. At the same time, we believe that we have found a good home for the AeroMaritime team to continue to deliver an excellent service to the M250 and RR300 market".

The transaction is expected to close in the second quarter of 2025 as it is subject to the achievement of regulatory approvals and other customary closing conditions.

About ITP Aero
With a 35-year track record of innovation and a growing workforce of over 5,900 professionals across 14 sites in 6 countries, ITP Aero plays a pivotal role in 40% of all commercial aircraft engine deliveries annually. With more than 5,000 engines in service, ITP Aero powers 6 aircraft take-offs every minute, partnering with all major engine OEMs to advance aviation globally.

About Essential Turbines
Essential Turbines, headquartered in Montreal, with locations in Vancouver and Mesa, Arizona, is a leading aerospace maintenance, repair, and overhaul (MRO) provider with a focus on helicopter and fixed-wing turboshaft engines. ETI is a specialist in the Rolls Royce M250 and RR300 engines, as well as turbofan engines modules, components, and accessories. Essential Turbines is backed by Swift Anchor Holdings and Balance Point Capital. Essential Turbines is actively pursuing strategic investments and acquisitions. Visit http://www.essentialturbines.com.

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